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HACKENSACK, N.J, JANUARY 4, 2010 - NAI James E. Hanson, a leading New Jersey-based commercial real estate firm, is pleased to announce the completion of a five-year, 1,500-square-foot retail lease agreement at 1424 Teaneck Road in Teaneck, N.J. NAI Hanson's Louis Tapia, sales associate, represented the landlord, B.J.W. Associates, while the tenant, SUBWAY Restaurants, represented themselves in this transaction. "High vacancy rates are forcing landlords to get creative with their incentive packages and lease terms," stated Tapia. "I was able to negotiate two renewal options on the lease, which reflects the new ‘norm' in today's market of extensive landlord concessions in order to place tenants in their properties." SUBWAY Restaurants negotiated two five-year renewal options for this 1,500-square-foot space that is located in a neighborhood strip mall anchored by Walgreens. The property sits just minutes from Route 4 and is conveniently located near Interstate 80, the Garden State Parkway and the New Jersey Turnpike. Amenities include pylon signage Plenty of off street parking The store is expected to open in February 2010. About NAI James E. Hanson Since 1955, NAI James E. Hanson has been a leading independent full-service brokerage commercial real estate and property management firm serving a diverse client list. NAI Hanson offers its clients strategic solutions and provides comprehensive value-added services such as office, industrial and retail brokerage, investment sales, land sales, management, government services and financing expertise. NAI Hanson is also one of the original members of NAI Global, an international commercial real estate network with over 325 offices spanning the globe. For more information on NAI James E. Hanson, contact William C. Hanson, SIOR, at the company's Hackensack office at 201-488-5800 or visit http://www.naihanson.com/.
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